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CNBC
Nov 29, 2012 3:00pm EST
out of washington in a minute. you can see when they happen when we show you today's chart. speaker boehner's comments pushed the market lower. then other comments brought them back a little bit. the dow is up just 45 points right now at 13,030. the nasdaq also trading higher today. last i checked, it was up 21 points. there it is at 3,013. that's about the high for the session. the s&p is up about seven points at 1416. >> a bit of a roller coaster ride today after fiscal cliff comments from both parties. >> eamon javers on capitol hill is following the drama, which changes moment by moment. >> absolutely, bill. it's been a bit of a roller coaster ride, as you say, on capitol hill with duelling press conferences today. follow along with me here on what each person said from each party and how that impacted the market, starting with speaker john boehner. here's what he had to say early in the day. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in
CNBC
Nov 15, 2012 3:00pm EST
time. >> if the guys in washington don't get together and actually act like grown-ups, we're in big trouble. >>> hi, everybody. time to rise above and keep the country from enduring a self-inflicted crisis. we're here today. i'm maria bartiromo coming to you live from the schwab impact conference in chicago. welcome to the "closing bell." we enter the final stretch for the markets today. everybody here is focused on the fiscal cliff. coming up, i will talk to allen simpson and erskine bowles in an interview you cannot afford to miss. hope you join us 4:00 p.m. eastern. the co-founders of the fix the debt campaign, which many corporate leaders are backing. they'll tell us how they think washington can come together and reach a deal, bill. >> sure would be great to figure that out. maria, looking forward to that. i'm bill griffeth here at the new york stock exchange. markets continue to feel the sting of the uncertainty surrounding the fiscal cliff crisis. look at the dow, for example. it can't decide whether to go higher or lower today. it's been zigging and zaging all session today.
CNBC
Nov 27, 2012 3:00pm EST
, the market has this kind of a selloff when we get words out of washington today. what do you make of this? who's right on the fiscal cliff right now? >> well, i think that -- >> steven gilfoil. >> the consumer isn't paying that much attention to this. the regular american doesn't watch the financial news. he isn't reading the kinds of papers we read. and he's less concerned with this. >> should they be? >> they probably should be, but investors are more concerned with corporate news, with macroeconomic news. the senator made a statement today. you would expect some kind of posturing this week. we're still 30 days out or so. they don't really have to cut a deal yet. they have to look like they're fighting for what they want to fight for, yet please the constituents. they're probably going to put that off for a couple weeks. >> it's the other way around. washington should be paying attention to the consumer and realize how much is the stake here. when you look at the consumer confidence levels able to hold up. when you look at the retail sales numbers pensimentioned by and the idea
CNBC
Nov 26, 2012 3:00pm EST
of that right now. how can you protect your for portfolio? we have chief washington correspondent john harwood, bill from coors state capital advisers who has a review of the new "lincoln" movie, lee munson and senior economics reporter steve liesman, plus mary thompson. we're going to be here for a while. john, let's start with you. any signs of progress on the hill? >> reporter: nothing tangible. we saw it at the initial meeting between the president and congressional leaders. we saw it over the weekend when some republicans again repeated their openness to being willing to raise taxes, which is something that is violated republican orthodoxy. here is jay carney just a few minutes ago in reaction to those comments. >> some of the comments you mentioned are welcome. and they represent what we hope is a difference in tone and approach to these problems and a recognition that a balanced approach to deficit reduction is the right approach. it's the one most beneficial for our economy. >> reporter: the president's trying to take advantage of that different tone. he talked to speaker
CNBC
Nov 21, 2012 3:00pm EST
peace in washington on avoiding a fiscal cliff, will these gains go away in a hurry? >> joining us now, rich bernstein, cnbc contributor, anthony chan, and our own bob posani. bob, so far we've seen, what, trade on two things, right? the middle east and fiscal cliff this week. make sense of it. >> right now this week shows we're up 2% right across the board. we're in the honeymoon period between congress and wall street about fiscal cliff. they think a deal can be done. most of the traders feel we've got until about the week of december 10th to show progress. after that, markets will start turning south. congress holds the keys to a good part of the gdp next year. if we get a decent deal on the fiscal cliff, a moderate agreement, we'll be at 2, 2.5% gdp growth. if we go over the fiscal cliff, we go probably 0% gdp growth and i'm sure that earnings will go negative. think about it. >> i think there's no question that if the federal reserve can't sort of make the economy grow fast we are about a 1% negative head wind, you go off the cliff. it's all over. the economy goes into a reces
CNBC
Nov 5, 2012 3:00pm EST
chief washington correspondent and birthday boy, john harwood is following the candidates' last-minute moves. happy birthday. >> thank you, guys. it is the only poll that matters tomorrow but we have a lot of other polls, which don't matter, which are giving us signals of where the candidates are and why they're going to those states. crisscrossing the battlegrounds, ohio, wisconsin, colorado, the candidates are all there. if you look at our nbc/wall street poll, 47-48 obama. look at the battle of the swing states, of the nine swing states, only in two does mitt romney have a lead in the real clear politics average of polls. that's north carolina and florida. all the others, iowa, colorado, new hampshire, ohio, the rest of that set of battle ground states are all leading for obama. now, many of them are close, but if mitt romney only carries florida and north carolina among those battleground states, he's only 235 electoral votes. what he has to do is put together in this final sprint victories in states like virginia, like in ohio, like wisconsin, like colorado. that's the way
CNBC
Nov 28, 2012 3:00pm EST
earlier in the session but came storming back after encouraging fiscal cliff talk from washington. listen. >> it's time for the president and democrats to get serious about the spending problem that our country has. but i'm optimistic that we can continue to work together to avert this crisis and sooner rather than later. >> i believe that both parties can agree on a framework that does that in the coming weeks. in fact, my hope is to get this done before christmas. >> wow. that's optimism. there you go. right now the dow jones industrial average is higher by 72 points. 12,950. the nasdaq is also in positive territory by about 11 points. the s&p 500, and you can see the same intraday pattern all three sessions, moving higher into the close. higher by 5.5 points. should investors believe in a rally solely based on encouraging comments? >> in today's "closing bell" exchan exchange, we discuss that. michael, i'll begin with you. the gyrations in this market are extrord their. one guy speaks in d.c., the market goes down. somebody else speaks, the market goes up. how do you play this? >> well
CNBC
Nov 7, 2012 3:00pm EST
winners and losers from president obama's re-election. >>> and will washington finally rise above all the political bickering to fix that fiscal cliff? it's all ahead coming up on the "closing bell." stay with us. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ ♪ when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. to a currency market for everyone. the potential of fxcm unlocked. nyse euronext. unlocking the world's potential. the potential of yelp unlocked. nyse euronext. unlocking the world's potential. >>> welcome back. a little over 45 minutes left on the trading session. time for
CNBC
Nov 19, 2012 3:00pm EST
bartiromo will be back tomorrow. more hopes washington can get together on the fiscal cliff. >> posting our biggest gains, sitting near the highs of the session right now with the dow up almost 180 points. 104% gain at 12,767. nasdaq doing very well today. apple leading the charge higher, at 2906 on the composite. a lot of traders are watching the s&p today as it gets back above the 200-day moving average at 1383. markets rallying out of the gate. haven't looked back since the open. is it really because there are signs that lawmakers are at least trying to rise above and make a deal on the fiscal cliff? >> maybe. in today's "closing bell exchange ", mark, gene and our own rick santelli. art, let me start with you. is this a rise above rally? does it look like we might get a deal? >> we've been rising above the levels we've been at. no question about that. traders felt reassured coming in this morning. washington is a ghost town. the president's out of country -- >> those are good things. >> congress is not coming back until next week. no one will go before the cameras and je
CNBC
Nov 16, 2012 3:00pm EST
that maybe our leaders in washington can be reasonable with each other. the major averages have had a rough week. it's even worse since the election, down about 5%. >> john, i would like to kick this off with you. what is, first of all, the latest in washington? >> mandy, bill used the word hope a moment ago. everybody since the election has been hoping that washington, both parties, white house and congress, can find some way to work together. that was the tone the president struck when he gathered the bipartisan leadership of congress at the white house this morning. >> my hope is that this is going to be the beginning of a fruitful process where we're able to come to an agreement that will reduce our deficit in a balanced way, that we will deal with some of these long-term impediments to growth, and we're also going to be focusing on making sure that middle class families are able to get ahead. >> and nobody, including the president, could fail to have been encouraged by the tone that was struck by all four members of the bipartisan leadership when they came out from that meeting
CNBC
Nov 9, 2012 3:00pm EST
former top economic adviser larry summers reacts to the standoff in washington over the looming fiscal cliff. >> it could be the year we begin to solve our debt through tax reform and entitlement reform. >> we're serious about reducing the deficit. we have to combine spending cuts with revenue. that means asking the wealthiest americans to pay a little more in taxes. >> can a deal get done before the january 1st dead line? hear what he thinks straight ahead. >>> then, jpmorgan chief jamie dimon talks about the market's post-election volatility and how he thinks they'll react if the government doesn't get the nation's fiscal house in order. >>> plus, we get the state of business at jpmorgan since the london whale trading debacle. >>> and remember the business own who are threatened to fire workers if the president was re-elected? >> he's going prevent us from expa expanding, prevent us from growing. it's going to make my life miss able. >> well, now he's given his workers raises instead. why the change of heart? he's here in another first on cnbc interview. that's all ahead on this very
CNBC
Nov 13, 2012 3:00pm EST
he's fleeing to belgium. tomorrow, i will be live in washington, d.c. "closing bell" is next. >>> hi, everybody. we enter the final stretch. welcome to the "closing bell." i'm maria bartiromo at the new york stock exchange. >> minor gains once again. i'm bill griffeth. other stories we're following, the white house and big labor have been meeting on the fiscal cliff today. taxing the rich, certainly a big topic of discussion. then tomorrow business leaders will have their say. the president will have the latest on that coming up. >> two big and exclusive interviews coming up. cisco ceo coming with me on the show as soon as earnings come out. that will be at the top of the next hour. and nyse ceo with us giving us an update two weeks after sandy historically closed sandy for two days. >> still a miracle they got things open when they did. we're oall following the latest in the general petraeus scandal. unbelievable twists, even today. we have a roreport from washington. then, more on how this story is shedding light on how anything you write can be accessed. pretty scary stuff
CNBC
Nov 14, 2012 3:00pm EST
cliff is going to happen. i think they're going to punt. i don't think anybody in washington, d.c. has the meatballs or spaghetti to care about cutting our debt and deficits. you know, the only thing that separates the two parties is the democrats supposedly wanted to raise tax rates and the republicans want to raise the effective tax rate. so what's the hysteria about? there's no -- there shouldn't be any hysteria about the fiscal cliff. look, our deficit for fiscal october, the month, one month, was $120 billion. for one month. that's 22% higher than it was last year. that's the real fiscal cliff, not this rouge we're worried about. >> you know, we heard from the president now for the first time. it seems like the president is digging in. everybody of's digging in. it feels like a dÉjÀ vu to me. i'm hoping we get a compromise, but are we still talking about ideologies that are leading things? are we ever going to get an agreement? do we just go over it? what are the implications? >> who's that to? >> rick santelli. >> well, listen, i never was a believer that after this presid
CNBC
Nov 12, 2012 3:00pm EST
we've been talking about? we'll have the latest on the fiscal cliff fiasco coming out of washington. >> will america soon be the new saudi arabia when it comes to oil? it's not science fixction. it's happening quicker than what you might think. what will it do to gas prices at the pump? >> it is very good stuff. right now the markets hoping to start the week off on a positive note after that rough go since the election last week. the dow up just 12 points. again, very light volume. no bond trading today because of the veterans day holiday. not a lot of direction for the markets today. up a point and change for nasdaq. at 2906. apple and microsoft sort of impacting the market today. the s&p 500 is up 1 1/2 points at 1381. less than an hour to go, let's talk with stocks in the green. can we manage to kick off the week in a positive note after last week's big losses? uncertainty over the resolution of the fiscal cliff is going to see for the foreseeable future, until the end of the year, as investors weigh what to do about that. what is the investor to do now that the markets get out o
CNBC
Nov 30, 2012 3:00pm EST
breaks down all the hardball offers and the reactions in washington. over to you, eamon. >> hi, guys. we got a lot going on here in washington this week. a lot of horse trading. we dealt with a lot of the spee speech. the white house is saying they'd like to see $1.6 trillion in tax increases up front here. they'd like to continue the payroll tax credit. they want a permanent increase in the debt limit and a one-year extension of expanded jobless benefits. they want at least $50 billion in spending as a stimulus to the economy. that was the white house ask that prompted that laugh from mitch mcconnell when tim geithner gave it to him yesterday. today in an interview with "the wall street journal," mcconnell floated his own balloon of what he'd like to see. here are some of the elements. mcconnell saying they want changes to entitlement eligibility. they would agree to more tax revenue, yes, but not higher rates. only if they get the revenue through changing deductions and other things like that. they say the white house is almost comical here. the key is means testing of these entitl
CNBC
Nov 2, 2012 3:00pm EDT
on what side is better able to turn out the vote. chief washington correspondent john harwood is at a phone bank where union members supporting the president are working hard to increase that turnout. this is critical, john. >> reporter: maria, this is the critical effort of this last four days of the election. the candidates are flying around. they're delivering their messages. tv ads are on the air. most aftof that messaging has already had its impact. now it's about both sides trying to mobilize the vote, especially in the eight or nine key states. here in this call center, they're working from 10:00 in the morning into the evening every day. they're phoning into the state of virginia right now with 13 electoral votes. that's a swing state barack obama carried four years ago that mitt romney wants to take away from him. business and other groups allied with the republican campaign are doing the same thing. the u.s. chamber of commerce, though they didn't want us to have a camera in their phone banks, say they're also making millions of calls this weekend. everyone is trying to goos
CNBC
Nov 6, 2012 3:00pm EST
past in washington, i think you avert the catastrophe that many people are talking about. look, i think the rally today also is another thing. you're going to have certainty tomorrow. you may not like who wins. but you're going to know what the outcome is, and you're going to know how to plan for your business. businesses have argued they don't like president obama, but they'll know tomorrow whether he's going to be the president or not. they'll know how to plan. >> one of the bottlenecks for the economy has been the lack of capital spending, capital expenditures by corporations. they're sitting on a lot of cash. does it matter who wins for them? will they start spending no matter who takes the white house or the house and the senate? >> well, i think the answer is what i just said before. you're going to have more certainty tomorrow. you may not like the policies put in place, but you will know what's going on. i think that is a major improvement over where we are yesterday as to where we'll be tomorrow. i think that's one of the reasons why the market is reacting as they are. by the w
CNBC
Nov 8, 2012 3:00pm EST
markets trust washington after conciliatory gestures from president obama and house speaker john boehner towards solving the nation's fiscal mess? >> we're ready to be led. not as democrats or republicans, but as americans. >> our good old-fashioned bull/bear debate is straight ahead. >>> and deconstructing disney. it's a first-on interview with the magic kingdom's chief bob iger, and his thoughts on earnings and the multibillion dollar deal for lucasfilm. >> it will be a day long remembered. >> that's all ahead on the "closing bell." ♪ ♪ ♪ [ male announcer ] some day, your life will flash before your eyes. ♪ make it worth watching. ♪ the new 2013 lexus ls. an entirely new pursuit. >>> this just occurred to me this morning. do you know that thanksgiving is two weeks from today? >> man. >> it's all upon us. if you're already dreading spending all day with your extended family, fear not. walmart is coming to the rescue. it's announcing it's going to open its doors at 8:00 p.m. >> how is that going to fly with your family? >> who's going to watch football now? >> that's a
CNBC
Nov 20, 2012 3:00pm EST
rise above inside their own parties. >> eamon javers in washington has the latest details here. >> hi, bill. yesterday i was in an empty hallway here on capitol hill. today we have an empty stairway here. just a couple tour groups up here. otherwise, it's pretty dead here. that's because most lawmakers are already home for thanksgiving break here in washington. the staffers who are here have come up. it's a relaxed day. behind the scenes, we're getting information that we're seeing some movement within the republican party in terms of the grover norquist anti-tax pledge. a couple prominent lawmakers have said that they don't necessarily any longer agree with the pledge that they themselves signed. some of those lawmakers include senator john mccain of arizona, tom coburn of oklahoma, and senator lindsay graham. take a look at this quote. this is what lindsay graham told his hometown newspaper just yesterday. he said, i signed it, meaning the pledge, in 2002. i'm not signing anymore pledges. i'm just going to take an oath to the constitution. i ain't signing no more pledges. tha
CNBC
Nov 23, 2012 12:00pm EST
china so you had some -- they do want to have concrete news come out of the washington, d.c., whether they get that greek deal, very, very carefully to see how strong this rebound that we're seeing in housing, the recoveries we're seeing in housing. >>> bottom line for both of you, end of the year, will we be higher or lower? >> higher buys, the economy is showing some signs of recovery, a catalyst for higher prices. >> i think you could see some downward pressure, because of people taking profits, getting the capital gains. also, as you look at profits for next year, if our number is true, mandy, if the profits will be lower next year, then you want to take some money off the table. stay with your technology, with your health care, stay with defensive stocks. >> you still like apple? >> we love apple. we think it can get back to 7350. but china, ipad, iphone, those will be -- >> a good week this week. thank you get to the mood as well, with your candy striped tie. >> look at those numbers, two for the lottery. >>> about ten minutes left, only a half trading day. the rally c
CNBC
Nov 27, 2012 4:00pm EST
the 1400 level. why the late-day selloff? most on the street blaming these words out of washington about fiscal cliff. >> there's been little progress with the republicans, which is a disappointment to me. they've talked some happy talk about doing revenues, but we only have a couple weeks to get something done. so we have to get away from the happy talk and start talking about specific things. >> as we head into the fiscal cliff negotiations, my advice to the president would be seems like our friends on the other side are having some difficulty turning off the campaign. we need to sit down and work this matter out. >> behind closed doors. even with the fiscal cliff looming over the markets, our own jeff cox with cnbc.com says there's a growing bit of optimism about the outlook for next year. take a look at some of the predictions from some of the street's biggest names regarding the s&p 500 for next year. it's quite a chapg for morgan stanley, by the way, whose 2012 forecast was for the s&p to close at 1167 on december 31 of this year. >> wow. they're expecting a mega rally next y
FOX Business
Nov 30, 2012 3:00pm EST
positive. there will be a whole lot of the same if washington continues to come back with nothing. liz: volume has been below. lincoln. maybe i misspoke, actually. you see how the dow continued to do -- the grade. >> certainly washington has been the focus this week. what i think you are alluding to is absolutely right. if you look at what has been happening at the consumer discretionary, there it is. you are seeing companies punished and punished pretty severely. you will continue to see that as we work through the third quarter numbers. even though we saw significant upticks, that is really getting expressed in the markets here. seeing them trade sideways off of that bounce. also the 1350 level on the s&p. liz: the energy market isn't exactly trading sideways. you have crude oil above $88 a barrel. >> they bought crew today. i think natural is oversold. short term, short-term, i have been bearish on natural gas for quite a few months. i think this is the low we will see for another week. >> oil at a $90 level. people may have been sort of like you. is that trade over if it does indee
FOX Business
Nov 7, 2012 3:00pm EST
efforts of washington, d.c. and instead he was all over the place. i think it hurt him in the end. by the way, i'm a big supporter to romney. i spoke to him till i was blue in the face about the issue and i'm a supporter of governor romney. liz: that's what i wanted to point out. it's your industry, so obviously it benefitted your industry, but it also benefitted a lot of workers too. it seemed to be an easy shot to simply say you know what, glad that president bush started it, what he did committing about 80 plus billion dollars to the auto industry, but you brought up the point about the notion that in some of the ads of governor romney's, that jeep was going to send jobs to china, in an unusual move, because auto industry tries to not get too involved in politics both gm and chrysler felt it important to come out and speak what they felt was the truth and say governor romney is wrong. this was obviously a big misstep. let's talk about autonation. you guys have done beautifully under the past four years under president obama -- over the past four years under president obama. your st
FOX Business
Nov 16, 2012 3:00pm EST
out of washington, d.c., a little bit of positivity. what have traders got to do with all of this, are they short, neutral? let's ask three superstar traders at the cme group and the nymex. notice i did not stay long because i figured knowing you you would probably not be long but what are you doing going to this weekend? >> a lot of people after the leaders of both parties were very optimist we talking about possibility of a deal, people covered in a short they might have headway int had going intod on the off chance that they come up with something between now and monday they don't want to be short the market because i think a deal will get a rally on a deal. liz: next week is thanksgiving. they try to manage to get something done before thanksgiving? no way, right? >> i don't think so, they will not get anything done right away. more back-and-forth, and we know obama has the leverage and he knows it, but the fact is we need to stay normal valuations. s&p 500 trading a multiple of 12.5%. it is really on the cheap side of history after the market pricing in any kind of failed neg
CNBC
Nov 13, 2012 4:00pm EST
the fiscal cliff is hurting client activity and creating big risks and uncertainty. washington already has a good ear into what wall street is thinking, that the fiscal cliff is a barrier to their business and that a solution is needed. but what the president wants to know is how business leaders across more consumer facing industries think the problem as well as a solution would impact every day americans. the list of 12 ceos said to be compiled by the white house crosses multiple industries from etna to xerox. what they want is not a one-time meeting but a dialogue over this. >> all right, kayla. thanks so much. so why is such a key group left out of the conversation? with me now in an exclusive is the president and ceo of new york community bancorp. nice to have you here. >> d did you get the invitation to the white house? >> no, the mail was a little slow due to sandy. >> serious l the banks are not invited. is this a concern that one key part of the economy is not involved in the conversation? >> i think it's fundamental. without money, you can't create jobs. the single be
CNBC
Nov 21, 2012 4:00pm EST
washington is turning heads on wall street. just listen to mario this morning. >> if you have these guys in new york, mayor bloomberg, mayor booker, the governors, cuomo, christie, malloy, if they went on holiday while we had sandy, what would you do? we have an economic crisis. they're going home for thapnk giving. they're going to take a short break in december. yeah, we have to have a patch, but we have to have a fix. >> so does he have a point? is congress taking the fiscal cliff seriously enough? joining me right now, the man in charge at insurance broker willis group. joe is also on the fix the debt campaign. it's great to have you on the program. >> nice to see you again. >> thank you so much. we had this big rally in stocks on monday. on some rhetoric, i guess, that led investors to believe there was optimism we will get a deal done on this fiscal cliff. now they've left town. what do you think happens? >> i don't understand why there's not a sense of urgency. i agree with mario. i don't know that people appreciate the fact what cliff means. remember sundance kid, butch ka cassid
CNBC
Nov 23, 2012 1:00pm EST
year of stasis in washington if you get the fiscal cliff the budget office is forecasting at its worse. no matter how dysfunctional congress is, i don't think you go an entire year with absolutely no activity because of the political and economic pressure will get so intense easily by the end of january to force somebody's hand. i'm not saying that i know anything will happen by december 14th or january 1st. i do think markets have priced a lot of that in. but they could go higher or lower but think that will be based on fundamentals ultimately, not on the timing of a political deal. >> do you feel the markets are spending way too much focusing on getting a deal done, instead of working on, okay, deal done, where do we go from there? there are a lot of fundamental headwinds from this market. i imagine once we get a deal, there will be tax hikes and sped spending cuts which could be headwinds in itself. >> the market on a short term basis has been a little oversensitive to every tactical change in the likelihood of some kind of deal before the end of the year. it does not mean to
FOX Business
Nov 20, 2012 3:00pm EST
go through this really quick. here's what we know, we hear from our sources in washington, these are good sources, they're getting this directly from the legislative leaders themselves or the staffers on the various committees that the republicans appear willing to raise taxes on the wealthiest part of the deal, the upper brackets are clearly on the table. on the table in a way that if i was to say a betting man right now, you know, there's going to be some tax increase for 250 and above. liz: i say a million. >> there's going to be a tax bracket increase. here's where the republicans are looking to cut their deal. they are looking to cut a deal on other taxes, if they agree to that, will the democrats scale back on maybe dividend taxes and the tax i hear on the table, big-time for republicans is amt. alternative minimum tax, talking about a big number of people getting brought in, they are looking to scale that back. and that's where we are right now. the deal with the republicans i hear want to do is something to appease the tax hawks, like the grover norquists. let's see where tha
FOX Business
Nov 27, 2012 3:00pm EST
the markets like it. a washington, a fly in the ointment, deal negotiations have stalled. senate majority leader reid says little progress is being made so the fiscal cliff remains a distinct possibility come january 1st, keeping some buyers on the side lines as well. that's what you see here. coming up, governors can't afford to stall. they have to balance their budget. day two of our governors on the edge, our series on how individual states are dealing with the budget mess. it is a fox business exclusive. delaware governor has some ideas. you have to hear what he has to say. the nasdaq, trying to tune out all the noise. if the nasdaq can turn it around and post positive gains here by the close, it will be the seventh straight day of gains, the longest winning streak in 16 months, seven days in a row, and yes, i know, positive gains is redundant. just seeing if you're paying attention. you know what? somebody is always making money. don't ever let the markets fool you. if something is down, somebody else is making money on the other side. let's find out from our traders at the
FOX Business
Nov 5, 2012 3:00pm EST
washington and boston. as it began to zero in on the new york area, we positioned 7 or 8 generators in places like west virginia, central pennsylvania, western mass, and once the storm hits, they usually declare a state of emergency, want you off the streets for a little while, and as soon as things start to clear, we will bring electricians in that we work with around the country that know how to do this, they will hook the generators up and we will be back in business. in the case of the one on route 17, this weekend we were one of the few stores that was up and running. two reasons, one we had the generator hooked up and two we had a tremendous amount of product in storage that we can call on in times like this. liz: brilliant. you have also taken positions recently in natural gas. you took a position in the shale operation in ohio. i'm thinking of the one thing we learned. we had a generator that was running on gasoline. it started to run out. gasoline was a real problem as you know. do you see a shift at some point that this is so ingrained in our psyche now of what has happened here tha
CNBC
Nov 6, 2012 4:00pm EST
with what steve was just saying. congress and washington responds to pain. that might be why we're about to go over the fiscal cliff. incentives. this might be a lot like the t.a.r.p. vote. they need to see a market reaction. they need to see the business community reaction. >> i know what you're saying, maria, but ei think the reality is that right now i'm trying to game out if obama wins. what is the republican incentive to compromise? same is true with the democrats. either the rules of the game change, and there's a lot of talk about what would change that, in other words redistricting the whole united states so these guys don't have such safe seats and they're not able to be so one sided. >> you know what i don't understand? this is all on these guys' watches. last year we talked about the deadline for the fiscal cliff. they knew what was coming. you would think six months ago they said to themselves, okay, in six months we have to make a decision. let's have a plan "b." tlt there's no back-up plan. >> wait until after the election and see what's. that's plan "b." >> all right
FOX Business
Nov 28, 2012 3:00pm EST
agreement certainly having optimism coming out of washington today is good news. that is our first preference, to do the right thing down in washington inside the beltway and avoid the fiscal cliff. liz: he said we almost have to prepare to separate budgets. wanted to go over the cliff and one if we don't. do you guys have prepared $8.1 billion estate budget. what if we go over the fiscal cliff, does that stand where do we have to redo it? >> don't forget we have been through difficult time, all the states have since the crash of the fall of '08. we have had to address revenue, there is not much left to cut, this would just be devastating any further cuts, how much more to do with the department and the families. very expensive with the state budget. there is not much left to cut. liz: you've got the second-highest unemploymensecone nation just behind event at 10.4%. now for people who don't understand, you guys get a lot of defense contracts because of general dynamics, lockheed martin working out of a state of long island. how many jobs would you lose if the sequestration hit and
FOX Business
Nov 19, 2012 3:00pm EST
add to a position until i see washington come to a concrete step towards agreement. liz: okay. gentlemen, we do have some breaking news that you may find interesting because i know a lot of you floor traders like twinkies. robert gray has some news. robert: getting ready for your thanksgiving meals here, a u.s. bankruptcy judge that the parties have agreed to mediation here, we're talking about of course hostess and the unions. they've agreed to a mediation tomorrow in the hostess case. remember, hostess had filed to liquidate basically, the bankruptcy judge says he's concerned about job losses, looking at about 18 1/2 thousand job losses after 33 plants that have been shut down by hostess, they make the twinkies. bankruptcy judge says the case is adjourned until 11:00 a.m. wednesday to make room for the mediation tomorrow. he had ordered the two sides to go back and talk. we will see if they can come up with anything before. remember keep in mind the bakers union unable to come to agreement with concessions with management there at hostess. we will continue to follow this ver
CNBC
Nov 15, 2012 4:00pm EST
since the election. is a deal in washington what investors are waiting for to get back into the game? joining me now is ben pace from deutsch back private wealth management, scott collier and our own mandy drury. good to see everybody. ben pace, what is behind this selling, and when will it end? what's your take? >> i don't think it's really economic right now, maria. i think it's pretty political. every pronouncement we've heard over the last four, five days has decreased the likelihood we're going to have a quick resolution of bargaining that has to happen in washington. again, it has to happen. it increases the likelihood that we fall off the cliff for lack of a better term. we still don't think that's over the 50% probability. it was probably 25 to 30 mow. that's why the markets are where they are. they're starting to hit levels now where they're looking attractive from a dividend yield perspective, distance from our targets at year end, they're starting to look more attractive at the 1350, 1355 level. >> so you would put money to work at that 1355 level on the s&p 500? >> this i
CNBC
Nov 8, 2012 4:00pm EST
that can fall prey to the typical political rhetoric we've been seeing in washington for a long time. >> it's important you mention corporate tax rates and the competitive situation because we are talking about, what, the second highest corporate tax rate when you look at other global economies. in terms of your own allocation of capital, does it make more sense to do more buybacks as opposed to dividends, given where we are right now in this discussion? >> well, we've been blending our return of value, our capital to shareholders with long-term investment, both through acquisition and organic growth, dividends, although our yield is relatively low, and of course stock buybacks. i think you'll probably see with disney relative status quo in terms of approach on this. we'll continue to buy back our shares, not just the shares that we'll issue for the purchase of lucasfilm but continue to buy them back and reduce our share base. we won't make an announcement about the dividend until the end of the year. we increased it nicely last year. we're certainly mindful of issues regarding taxes
FOX Business
Nov 15, 2012 3:00pm EST
washington. liz: three names will protect you according to david. david is going to be talking about other ideas, chief market strategist back to tell us which stocks to invest in while this cliff deadline looms. already hearing from people that they are annoyed with the expression fiscal cliff, trying to come up with something else. closing bell ringing in 49 minutes. is the are in brick nation losing its muscle? russia's third quarter gross domestic product growing at the slowest rate since 2010 and the nation's second-largest bank sought profits dropped 63% in the most recent quarter. coming up, the chairman and president of d tv bank joining us in a fox business exclusive to talk about how to navigate the volatile environment including america's fiscal cliff and how do you say fiscal cliff in russian? looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy
FOX Business
Nov 9, 2012 3:00pm EST
stressing the need for washington to please work together to avoid that fiscal cliff. but will they be able to find middle ground? and rich, of course the news in the last 7 minutes, 11 minutes or so was that the president will be speaking once again on wednesday. but what are you hearing? you've got your ear to the ground. what do you hear? rich: that's right, news conference next wednesday. president obama says he is willing to negotiate, willing to speak with republicans. in fact next week, democrats and republicans congressional leaders are working at a time to come here to the white house to meet with the president. but president obama made it clear when it comes to raising taxes on wealthier americans, he says the voters have spoken. >> this was a central question during the election. it was debated over and over again. and on tuesday night, we found that the majority of americans agree with my approach. and that includes democrats, independents, and a lot of republicans across the country. rich: the white house and the press secretary later went further and said president obama will
FOX Business
Nov 29, 2012 3:00pm EST
nuisance headlines coming out of washington? traders at the new york stock exchange, what a day today. some better games at the moment but again a perfect example of how washington is holding the market. >> you talk about how sensitive the market is right now. looking at washington, putting earnings season besides us. all coming down to the last 32 days of the year and what is its going to happen in washington. anytime we hear anybody making any comments, it is going to move the market. like you saw on that chart, who is saying what and when, clearly that shows it is all about getting in front of the camera, getting out in front of the public making sure the public understands where everybody stands. they will stretch this one out as long as they can, the drummer will unfold, we will watch the miniseries play out on live tv. it will come to the same path and figure it out before the end of the year. tracy: we should have our viewers name the intraday chart. i cannot believe this, 32 days, we have to live with this war true fundamentals, make your picks. >> this is an unusual mar
CNBC
Nov 19, 2012 4:00pm EST
bartiromo is back tomorrow. bill griffeth back in a moment. high hopes washington will rise above and fix the fiscal cliff is what many say is the spark for the largest rally in over two months. we rallied all the way to the close, folks. closing at the highs of the session. dow up 207 points, 12,796. reapproaching that 13,000 level appear so the point. nasdaq up by 63 points. and the s&p 500 higher by about 27 points. all gains of at least 1.5%, sometimes more than 2%. >> certainly a sea of green today for wall street. was it today's rise above rally and was it for real? we had a couple of skeptics with me just now. we are going to be closing up more than 200 points. margie from wells fargo funds management joins us, so does michael from destination wealth management and joe greco will be with us in a few moments here. rick santelli is staying late as well with this rally here. >> ready to go, joe? >> yes. >> what do you make of the rally? >> i guess when republicans want to peek past what is involved besides a tax increase, that signals a compromise. so, the markets say, hey, maybe
FOX Business
Nov 23, 2012 12:00pm EST
year which is entirely possible? we are talking about washington. >> i don't think anybody will blink yet in washington. another month left will stretch us out as long as possible. when we come here is a day-by-day market. one day everyone is buying into amanda knox data could be a headline out of washington where everyone is trying to get out real quick. too many uncertainties heading into the year or the first quarter next year so investors will look at this as a day-by-day trade but we can't forget the other factors out there. the fiscal cliff, we will get our normal calendar of economic data and still get headlines out of europe. still lot of things will move the market. i traditionally think we see a run up toward the end of the year. cheryl: a lot of traders bring their families on the floor of the stock exchange, thanks. let's go to the nymex where we have anthony with us. i want to talk about commodities. in particular goal. it has been such a safety play for so long. it was of four months or so but we're getting a little more interest in gold. is that europe or the fisc
CNBC
Nov 29, 2012 4:00pm EST
comfort in is it believes that as fractious as things can be, that the leaders in washington have learned their lesson. that the wrong word can move markets and they will be somewhat careful, that nobody will produce anything like the 500-point selloff in the t.a.r.p. vote. they think there's a minor protection there. nevertheless, we're in an age of auditory lottery tickets. whoever gets to the microphone swings things. >> yet, they believe that, number one, it's coming soon, that something is going to happen in december, and it's going to be a credible plan, something that's a real down payment that won't trigger some kind of ratings downgrade by the agencies. >> well, i think, again, they believe that these guys are chastened enough not to go off the deep end, and for all the talk, it might be go to go over the cliff for a little bit that people really think nobody wants to take that gamble. you don't want your political party becoming a footnote. >> materials, financials, health care all advanced today. a fairly broad advance, even if it was only fractional. back to you. >> al
CNBC
Nov 16, 2012 4:00pm EST
in washington today calling talks on the fiscal cliff constructive, but not everyone is buying that anything is getting accomplished. >> yeah, not just -- last week td ameritrade's ceo warned the cliff hanger would keep the markets muted into the new year. it's no wonder the major average is down about 5% since the close of trade on november 6th. fred joins us now exclusively. are you hopeful, at least, that we get a deal before the end of the year? >> i don't know if we'll get a deal by the end of the year. i'm hopeful we'll get a deal, and i'm hopeful our political leaders will work through this. i think the hard part is getting it done before the lame duck session. >> can we afford in the to get a deal before the end of the year? >> you know, i don't know. you never know. i think you can always gets through it. there's many ways to get through it. i think the market is really looking for incredible plan here. it's probably a combination of spending cuts and tax increases, but it has to be one that helps in the short term but has over the long term deals with the fiscal deficit. >
CNBC
Nov 14, 2012 4:00pm EST
director david petraeus and the embassy attack in libya. eamon javers is in washington right now. he has the highlights. >> hi, maria. no specific olive branch here from the president during the press conference to republicans in terms of the fiscal cliff negotiations. the president twice now referencing his own re-election, suggesting the american people voted here for a very specific set of outcomes. take a listen. >> if there's one thing that i'm pretty confident about, it's the american people understood what they were getting when they gave me this incredible privilege of being in office another four years. >> the president did take a hard line on extending the bush tax cuts. >> what i'm not going to do is to extend bush tax cuts for the wealthiest 2% that we can't afford and according to economists will have the least positive impact on our economy. perhaps the fieriest moment in all of this is in the discussion over libya. the president talking about u.n. ambassador susan rice, who's been criticized by senators mccain and graham up on capitol hill. the president said if mccain
CNBC
Nov 26, 2012 4:00pm EST
next month, or some anyways, to see what happens in washington. >> we've had a lot -- you know what's going to happen on the volatility side, we talk about that as a bad thing. figure you're a short term, 35, 45-day trader, that is a bad thing. if you're not, looking for entry points, these are the moments you're looking for to actually establish positions in names. >> you'd buy on these dips we've had? >> yes. but i'd make sure it's more than just a dip. i would buy on a bigger pullback. >> are you saying wait until we get clarity or buy on the dips? >> no, i agree with what michael said. first of all, i think there are assets that will do well over long term, whether we go over the fiscal cliff or not. dividend paying stocks outside of the united states. mega caps. there are some assets you want to own. one example, muns bonds. o one place you may want to consider -- >> we had a guest on last hour, we asked specifically about that idea and he said, i get it but they've run up so much, the risk/rewartd d is out of balanc and too risky. >> too expensive, he said. >> well, i think the
FOX Business
Nov 13, 2012 3:00pm EST
recent attacks on washington, d.c. he is blaming the people inside the beltway, partially for a rough quarter but partially for a very opaque atmosphere for which he is finding it difficult to run businesses and he's hearing from his customers. what does he say about the atmosphere right now? but first in a few minutes, i speak with the businessman of all businessman, sir richard branson the founder and chairman of the virgin group about what it is like to run and grow multiple billion dollars businesses in this environment. he is the fourth richest man in the u.k., but who cares about that, he is one of the gutsiest businessman ever to have lived. he started one tiny business in a basement when he was 16 years old. look at him now, cheryl. an amazing story. cheryl casone is in new york. she will be guiding you through the last hour of trading. how are things looking? cheryl: things a r looking a bit better -- things are looking a bit better. we have a very mixed picture for markets at this hour as we move into the close. the dow and s&p are actually both higher. the dow up about 17 p
CNBC
Nov 12, 2012 4:00pm EST
began the session. a quieter start to the week on wall street as markets debate how washington will avoid that fiscal cliff and going over it. will the markets wait for a deal or are investors already taking action into their own hands? let's get to our panel, david dahl, mark travis, and robert zagunis will join us in a moment. good to have you on the program. david, let me begin with you. how are you invested right now amidst all of these issues pertaining to the fiscal cliff, higher tax rates in 2013, et cetera? >> always good to be back with you. we've been defensive. we've looked for opportunities to take gains over the course of the year. thankfully we've been very u.s.-centric in our investments over the course of 2011-2012. what we're preparing for now is looking again at the foreign markets in 2013. >> foreign markets meaning you want to be allocating money outside of the u.s. because of these issues in the u.s.? >> well, taking a look at some of the large global players here in the u.s. and outside, because as tax rates go up here in the united states, what we're about to
CNBC
Nov 9, 2012 4:00pm EST
through the uncertainty that persists in washington? joining us right now in an exclusive to talk about that and more, jamie dimondimon, chairma ceo of jpmorgan chase. thanks for joining us. >> great to be here. >> big week. obviously, the election. the president getting re-elected. give us your sense in terms of what the impact of four more years of president obama will be on business and on jpmorgan. >> well, i think the first thing is the foundation of business is actually pretty strong. companies are in very good shape. a lot of cash. if you look at the numbers, housing looks like it's turning. household formation is going up. consumers have consumers are still spending. the american economy, to me the most important thing is we solve the sort-run fiscal cliff and the longer run fiscal issues. i think if we do that, the economy can boom. i hope that president obama, you know, works on that. i think he has been working on that. >> and you've been traveling a lot. i know technology has been important as well. i want to get to that in a moment. you mentioned the fiscal cliff. let's sta
CNBC
Nov 7, 2012 4:00pm EST
general electric. what is it going to take for washington to rise above the fray and make decisions that move this country forward? joining me now in a cnpc exclusive is bob nardelli. bob, great to see you. >> thank you very much. great to be here. >> thank you for joining us today. you have such fantastic business experience. really, one of the very, very great wisdoms to give us a sense of where we are right now in the economy. let me get your thoughts on the outcome of the election and how both parties now begin the work, rise above this political bickering that has been going on for so long. >> you nail it this morning with joe and everybody about the new buttons and rise above. speaker boehner, i thought, you know, was right on target also. the election is over. regardless of whether you feel your candidate won or not, we've got a re-elected president. we've got to come together and really address these issues, maria. i think in a meaningful way. again, my perspective will be always from a businessman's point of view. so stop the rhetoric. let's get very strategic. let's get ac
FOX Business
Nov 14, 2012 3:00pm EST
2008, was a disaster two or three months and until the tone change in washington, we did not get any help. melissa: we had the word israel killed military leader. there was video from the air, so looking at oil if it higher. are we not? >> it was kind of strange because earlier in the day, the market did not move. and all of a sudden we rallied based on that move. i heard something else about the pipeline, we were up on that news. going forward, kind of fold your hands and say wait until the end of the year to get an idea of where it would go. i think the high today was 87.06 or thereabouts. i think the market is going to kind of find its way around $85. liz: oil down 12, 13% year to date, but equally as interested in today and the news out of the federal reserve minutes that may see cuti q. east four. >> do not have that much reaction in equities, but certainly the bond has not been sharing the risk mentality. up pretty much all day. basically they now say numerous governors are thinking there should be something to continue the twist, so realistically that could be an issue. what w
CNBC
Nov 28, 2012 4:00pm EST
reversal. the s&p also in positive territory. market driven by headlines and bluster out of washington. yep, that's what investors should expect short term. maybe until january 1st. should they also expect a rally any time soon? according to ryan dieterich, rally could most definitely be headed our way. >> he joins us now to explain along with peter anderson from congress asset management company. bill mcvail from turner investment partners and our very own rick santelli. peter, i have to begin with you. with a name like congress asset management, is congress going to come through for your assets? >> well, i wish i had an inside scoop on that, but unfortunately, we're also left to speculate at this point. but i will say this. what's incredible about this market is the way the market moved up today, it's an instant polling network that the government can use, actually, to kind of float trial balloons to us and get a sense of what we think of their proposed actions. >> peter, that is so charming. you assume this government cares what you think. >> well, i like to think that. i do think t
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